Buyers will benefit from easier access to mortgage money, while sellers will benefit from a larger potential pool of buyers. It’s worth noting, however, that the certification process is still rigorous and no doubt many property management companies will not take advantage of the opportunity.

The FHA also took measures to limit the liability of condo associations resulting from application requirements, which previously provided for huge fines and even the potential for prison time.

FAIR HOUSING STATEMENT: Stone House Realty of Arizona supports the principles of the Fair Housing Act (Title VIII of the Civil Rights Act of 1968), which prohibits discrimination in the sale, rental, and financing of dwellings, and in other housing-related transactions, based on race, color, national origin, religion, sex, familial status, and handicap.